I received the 1099-Misc and they put the amount in box 7. But I forgot to do my taxes for 2006. This is the first time that I will report taxes for 2006 and since I am doing them on my own I was wondering what form should I do to report my taxes. Can I still do my taxes or is too late. I know that April 2007 was the last month to do them?:( :confused:

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Originally Posted by mariaayon

I received the 1099-Misc and they put the amount in box 7. But I forgot to do my taxes for 2006. This is the first time that I will report taxes for 2006 and since I am doing them on my own I was wondering what form should I do to report my taxes. Can I still do my taxes or is too late. I know that April 2007 was the last month to do them?:( :confused:

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Line 7 of 1099-MISC is for non-employee compensation - I take it you are a contractor in business for yourself? Yes, you can still file, and you should do so ASAP. You will have to fill out Form 1040, and report the income on Schedule C, line 1. You can get these forms and instructions from the IRS website, see:

1040 Central

If you end up owing taxes, you may be subject to interest charges and a penalty since you missed the April 15 deadline, so it's best to get your return completed and money sent in ASAP.

If you have a Form 1099-MISC instead of a W-2, RUN (don't walk) to a local tax professional to do your return. Your return will require preparation of Form 1040 and AT LEAST Schedules C and SE.

This is NOT a return to be done by a layman. Your situations SCREAMS for professional help!